PNC 2.22% 46.0¢ pioneer credit limited

Ann: Process Update and Request for Suspension Extension, page-12

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    Pioneer has changed from FV to AC which made a significant change to this years accounts.

    The announcement 30 Sept said: They had to apply AC to 900 PDP's acquired by the Company over the last 10 years.

    So will this re accounting mean the hit to profit will have been expensed in this financial year ?
    Then shouldn't profits be back to where they were next year ?
 
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